Analysts/Institutional Investor Meet/Con. Call Updates

August 03, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block – G, Bandra Kurla Dalal Street, Mumbai - 400001 C o m plex, Bandra (E), Mumbai - 400051 Ref.: Indus Towers Limited (534816/ INDUSTOWER) Sub.: Transcripts of the Earnings Call on the Company’s performance for the first quarter (Q1) ended June 30, 2026 Dear Sir/Ma’am, Please find attached the transcripts of Earnings Call conducted on July 28, 2026 on the Company’s performance for the first quarter (Q1) ended June 30, 2026. Kindly take the same on record. Thanking you, Yours faithfully, For Indus Towers Limited Samridhi Rodhe Company Secretary & Compliance Officer Encl.: As above Indus Towers Limited Registered & Corporate Office: Building No. 10, Tower A, 4th Floor, DLF Cyber City, Gurugram - 122002, Haryana I Tel: +91-124-4296766 Fax: +91-124-4289333 CIN: L64201HR2006PLC073821 I Email: compliance.officer@industowers.com I www.industowers.com “Indus Towers Limited Limited First Quarter Ended June 30, 2026 Earnings Call” July 28, 2026 MANAGEMENT: MR. PRACHUR SAH – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – INDUS TOWERS LIMITED MR. VIKAS PODDAR – CHIEF FINANCIAL OFFICER – INDUS TOWERS LIMITED MR. DHEERAJ AGARWAL – HEAD INVESTOR RELATIONS – INDUS TOWERS LIMITED Page 1 of 19 Indus Towers Limited July 28, 2026 Moderator: Good afternoon, ladies and gentlemen. I'm Neerav, the moderator for this conference. Welcome to Indus Towers Limited First Quarter ended June 30, 2026 Earnings Call. For the duration of the presentation, all participant lines will be in the listen-only mode. After the presentation, the question-and-answer session will be conducted for all participants on this call. In case of a natural disaster, the conference call will be terminated post an announcement. Present with us on this call today is the senior leadership team of Indus Towers. Before I hand over the call, I must remind you that the overview and discussions today may include certain forward-looking statements that must be viewed in conjunction with the risks that we face. I now hand over the call to our first speaker of the day, Mr. Prachur Sah. Thank you, and over to you, sir. Prachur Sah: Thank you, Neerav, and a very warm welcome to all participants. Joining me today are my colleagues, Mr. Vikas Poddar, CFO; and Mr. Dheeraj Agarwal, Head Investor Relations, on the call. Today, I will present our business performance for the quarter ended on June 30, 2026. Rollout momentum remained healthy during the quarter, supported by continued network expansion by our major customers and movement of their expired tenancy portfolios to Indus. We continue to maintain leading share in our customer deployments, resulting in significantly larger tenancy growth than our peers, driven by strong execution, service reliability and technology-led operations. Before I delve into our performance, I would like to recognize the dedication and commitment of our field teams. Despite operating in some of the country's most challenging conditions, they delivered exceptional resilience, enabling timely connectivity along the Amarnath Yatra route. They also maintained network continuity amid adversity in flood-affected Arunachal Pradesh through swift restoration efforts, proactive planning and strong local coordination. On the regulatory front, as I had mentioned earlier, the RoW rules 2024 have now been implemented across India, which will continue to benefit in seamless deployment of telecom infrastructure. Regulatory developments in Uttar Pradesh, Rajasthan and Delhi further strengthened the Green Energy Open Access framework, expanding renewable energy adoption opportunities for telecom infrastructure. I would like to call out the unparallel support from the Government and regulatory authorities for ensuring fuel availability for the industry despite restrictions imposed on account of West Asia conflict. This helped us maintain uninterrupted operations. Moving to 5G networks. As per the latest report from TRAI, 5G subscription base in the country grew by 36 million in Q4 FY26, totaling to over 427 million. The rising adoption of 5G is driving the demand for creating infrastructure to support the user experience. This is resulting in consistent 5G deployments by operators, taking the installed base of 5G BTSs to 563,000, up by 32,000 in Q1 FY27. Page 2 of 19 Indus Towers Limited July 28, 2026 Operators continue to focus on network densification and capacity augmentation to support rising data consumption and evolving use cases. We believe this will sustain investments in network expansion and support loading-led growth. We are well positioned to capitalize on the growth opportunity through our expansive tower footprint and long-standing customer relationships. Data consumption trends continue to remain robust, reflecting the deepening integration of digital services into everyday life. As per TRAI's latest publication, the total data consumption and average monthly data usage per user during Q4 FY26 grew by 31% and 20% year-on-year, respectively. The shift towards 5G networks has further accelerated this trend. According to TRAI, 5G usage alone grew 87% year-on-year, accounting for 43% of the total data traffic in Q4 FY26, up from 30% in Q4 FY25. These trends reinforce the need for sustained investment in network capacity augmentation, deeper coverage to meet rising customer demand, enabling growth opportunities for us. In terms of operational performance, order booking remains strong from our major customers. We added almost 3,100 macro towers and 4,200 corresponding colocations during the quarter, resulting in a year-on-year growth of 6.3% and 5.1% in tower and colocation base, respectively. As a result, the total macro tower and colocations stood at around 267,600 and 432,300, respectively. Our industry-leading tenancy ratio was stable at 1.62. Including lean towers, we ended the quarter with approximately 446,300 towers. Let me provide an update on our key KPIs. Making our network green and eliminating diesel usage is central to our strategy. We added solar access to about 3,700 sites during the quarter, taking the overall site count with solar access to about 46,000. We believe that there is significant runway to solarize our tower portfolio. Diesel consumption on our sites has seen a reduction of 13% year-on-year in Q1 FY27. This is achieved despite growing co-locations and continued network loading at our sites. I want to underscore that all this is delivered while maintaining network uptime and customer experience. Our network reliability remains robust with an uptime of 99.95%. I will now provide an update on our key strategic pillars, market share, cost efficiency, network uptime and sustainability. On market share, we have further strengthened our position with customers, captured a healthy share of their network expansion and movement of the existing expired tenancies to Indus. Our performance is underpinned by dedication of our people, strong execution by our partner ecosystem and resilient operating processes that help navigate supply chain disruptions while maintaining high standards of safety and quality. During the quarter, we further expanded our product portfolio with integrated IBS and build-to- suit hybrid solutions designed for large residential and commercial complexes, metro railway stations, tunnels, highways and marquee Government establishments. These differentiated offerings have enabled us to further consolidate our leadership position and enhance our ability to address evolving connectivity requirements across a wider range of infrastructure use cases. Page 3 of 19 Indus Towers Limited July 28, 2026 Cost discipline remains a core pillar of strategy and deeply ingrained across the organization. Leveraging data intelligence and standardized operating frameworks, we continue to drive structural improvements in site rental, supply chain efficiency, inf [Showing first 8,000 characters — download PDF for full document]